DQNews Archived Article

California building activity up!

by Real Estate Analyst John Karevoll
December, 1996

La Jolla, CA.— Construction activity in California increased again in November, led by growth in both the residential and commercial sectors, a real estate information service reported.

Funding for construction projects totaled $778 million in November, down 12.3 percent from $886 million for October and up 19.2 percent from $653 million for November last year, according to DataQuick Information Systems.

A decline from October to November is normal for the season. The state's year-over-year numbers have been up 10 of the last 12 months.

Construction financing for the first eleven months of 1996 totaled $8.87 billion, up 20.2 percent from $7.37 billion for the same period in 1995. The 1996 year-to-date total was the highest since $9.29 billion for that period in 1991. It was 49.8 percent ahead of the $5.92 billion in 1993.

California construction financing Jan-Nov:

1991     $9.29 billion
1992     $7.51 billion
1993     $5.92 billion
1994     $7.29 billion
1995     $7.37 billion
1996     $8.87 billion

Source: DataQuick

While all regions of the state showed growth in the construction sector, the Bay Area experienced the strongest comeback from a grim 1993. Last year's January-to-November total was $2.57 billion, up 94.2 percent from $1.37 in 1993.

Southern California was up 42.8 percent, from $3.04 billion in 1993 to $4.34 billion last year. The Central Valley showed the slowest growth, the total for last year's first eleven months was $1.51 billion, up 14.8 percent from $1.31 billion for the same period in 1993.

DataQuick monitors real estate activity nationwide, and provides information to consumers, lending institutions, title companies and industry analysts

Source: DataQuick Information Systems

For more information call John Karevoll (909)867-9534

Copyright © 1996 DataQuick Information Systems.
All rights reserved.